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Tag Archives: budget

U.S. HOUSE ADOPTS BUDGET PLAN

House Republicans today narrowly adopted a budget resolution, moving President Donald Trump one step closer to his goal of passing a major tax code overhaul before the end of the year. The budget blueprint allows Congress to enact tax cuts later that increase the federal deficit by up to $1.5 trillion over 10 years. The… read more

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SENATE PASSES BUDGET PLAN

Senate Republicans Thursday passed a $4 trillion budget blueprint. The plan includes language which sets up special procedures that stop Senate Democrats from staging a filibuster on tax reform. The shortcut also will permit Republicans to avoid a conference committee between the House and Senate, allowing the House to simply pass the Senate resolution. (NPR)

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SENATE TO MOVE ON TAX REFORM

The U.S. Senate is poised to vote Thursday on a budget measure that would help Republicans pass President Donald Trump’s overhaul of the tax code without Democratic support. Included in a fiscal year 2018 budget resolution, a legislative tool called reconciliation will allow Republicans to advance tax legislation with a simple majority vote. (Reuters)

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#ILLINOIS’ BILL BACKLOG HITS $16B

State Comptroller Susana Mendoza this week announced that Illinois’ pile of unpaid bills grew to $16 billion, despite the state’s recently-passed budget. According to Abdon Pallasch, spokesman for Mendoza, school aid and pension payments this week will lower the bill backlog into the $15 billion range. Illinois has the lowest cred rating of all 50… read more

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HOUSE OVERRIDES GOV’S VETO, BUDGET IN PLACE

The Illinois House Thursday narrowly voted to override Gov. Bruce Rauner’s veto of a tax hike and spending measure, ending the state’s more than two-year budget impasse. Rauner called the House vote “another step in Illinois’ never-ending tragic trail of tax hikes,” while House Speaker Michael Madigan said state lawmakers “looked beyond partisan differences and… read more

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WE’RE NOT ALONE

#Illinois isn’t the only state without a permanent spending plan – though it’s the only state beginning a third straight year without one. In fact, Illinois is among 11 states without budgets. For most states, the disputes are driven by ideological divides and poor budget forecasting. In others, lawmakers are clashing over whether to borrow… read more

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TIME’S UP

This is it. The last day before a new fiscal year starts July 1, and Illinois moves into its third year without a budget. House Speaker Michael Madigan has said he’ll call the $36.5 billion spending plan for a vote, but said discussions continue over tax hikes needed to balance the budget. The impasse is unprecedented… read more

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TWO DAYS LEFT

Lawmakers have just two days left to settle on a budget before the new fiscal year begins July 1. That in mind, here’s today’s budget impasse roundup: A property tax freeze, wanted by Gov. Bruce Rauner as part of his compromise to raise taxes, failed in the House Wednesday, dimming hopes that a budget agreement… read more

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HOUSE BUDGET BILL RESTORES SOME TRUMP CUTS

The U.S. House fiscal year 2018 appropriations bill restores proposed cuts to USDA, including funding for Peoria’s ag lab. The bill proposes $20 billion in discretionary funding – $4.6 billion more than President Donald Trump’s budget request. A subcommittee advanced the fiscal year 2018 agricultural appropriations bill to the full committee. (FarmWeekNow.com)

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THREE DAYS LEFT

Illinois House Democrats Tuesday served up their $36.5 billion budget, but didn’t offer details of how they would pay for it. House Speaker Michael Madigan also said the House will take votes today on pension reform, workers’ compensation changes, property tax relief and government consolidation, all items that Gov. Bruce Rauner has said must be… read more

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